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TEHRAN: Representatives of National Iranian Oil Company headed by Oil Minister, Bijan Namdar Zanganeh, signed three agreements with China’s officials on boosting oil, gas exports and joint investment.
Deputy Oil Minister Amir-Hossein Zamani-Nia, Mohsen Qamsari, a director of the National Iranian Oil Company and a number of senior NIOC directors accompanied Zanganeh on the trip.
NIOC officials met major Chinese importers of Iran’s oil including China International United Petroleum and Chemicals Company (Unipec), Sinopec and Zhuhai Zhenrong which began oil imports from Iran in the 1990s.
Increasing the volume of crude oil and gas condensate exports and transactions, participation in Iran’s new oil and gas projects and development of research cooperation are three axes of new oil agreements signed between Islamic Republic of Iran and China in Beijing.
China is Iran’s biggest trade partner and oil customer. In 2012, following the intensification of Western sanctions against Tehran, China accounted for almost 50 percent of the country’s oil exports.
According to figures released by the Chinese Customs Office, in 2014, Iran was China’s sixth biggest oil supplier after countries such as Saudi Arabia and Angola.
